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* Circuit City Group said its fiscal second-quarter earnings rose 34% to $9.11 million, or 4 cents a share, helped by higher net income at its CarMax used-car unit, which will be spun off next month. Sales rose 10% to $2.22 billion.
* Clorox Co. raised its fiscal first-quarter earnings estimate because of cost cuts and sales of more profitable items. Profit is expected to be 52 cents to 55 cents a share, up from its earlier forecast of 50 cents to 52 cents.
* Lockheed Martin Corp. and a BAE Systems unit have agreed to pay the government $6.2 million to settle a lawsuit over a U.S. Navy contract, the Justice Department said. The case is based upon a whistle-blower’s claim that parts for rudders on F/A-18 Hornet fighter planes didn’t meet performance requirements. Lockheed said the settlement is not an admission of guilt.
* Tower Records, the closely held seller of compact discs at 171 stores and on the Internet, named turnaround specialist Betsy Burton interim chief executive of the family-run company. MTS Inc., which does business as Tower Records, said Russ Solomon, founder and chairman, will step down and become chairman emeritus.
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